September, 2019

• 8 September

  JPMorgan fears new breed of crypto like Libra face ‘gridlock’

  

  Bloomberg Stablecoins, a fast-growing subset of cryptocurrencies designed to avoid the large fluctuations of Bitcoin and Ether, could fail to function properly in periods of stress, according to JPMorgan Chase & Co. While the total value of all stablecoins is less than $5 billion, the low-volatility tokens are poised for rapid growth, and none more so than the Libra coin ...

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• 8 September

  Europe-US regulatory split may prolong Max grounding

  

  Bloomberg Aviation executives are increasingly worried that a widening split between regulators in the US and Europe will extend the grounding of Boeing Co’s 737 Max, sowing confusion and fear as officials work to approve the resumption of commercial flights after two deadly crashes. Sounding the alarm over the increasingly tenuous alliance were Aengus Kelly, who heads the largest global ...

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• 8 September

  KLM staff call off strike plan, to resume talks

  

  Bloomberg The ground staff of Air France-KLM’s Dutch arm cancelled their plan to strike work on Sunday at Amsterdam’s Schiphol Airport, one of Europe’s busiest travel hubs, after KLM indicated willingness to redress their grievances, FNV union said in a statement on its website. “KLM has until the end of next week to come to an agreement on the most ...

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• 8 September

  Walmart plan to keep guns out of stores won’t keep them all out

  

  Bloomberg Walmart Inc’s new policy discouraging patrons from openly carrying guns will rely heavily on signage and won’t require employees to confront every person carrying a firearm, according to a person familiar with the matter. The nuanced approach is designed to let people who are armed go about their business in a Walmart store, as long as they’re not making ...

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• 8 September

  Lululemon Athletica shares hit highest ever

  Bloomberg Lululemon Athletica Inc shares rose as much as 6.7 percent to a record high after again issuing a beat and raise quarterly report. “Lulu continued to show that it is in a league of its own,” Telsey Advisory’s Dana Telsey wrote. The retailer surprised the Street with a 500-basis point total comparable sales beat, even better than the 460-basis ...

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• 8 September

  American Air says goodbye to MD-80 jetliner after 36 years

  

  Bloomberg Julio Gomez has flown the MD-80 for his entire 20-year career at American Airlines. But he can’t bring himself to make that final trip into the New Mexico desert. “I just cannot take that airplane to its grave,” Gomez, 52, said of the iconic jets’ retirement flights. “It’s just too heartbreaking.” The retirements mark the end of an era ...

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• 8 September

  Facebook, Google brace for antitrust probes from states

  

  Bloomberg Facebook Inc and Google are facing intensifying scrutiny by state law enforcement officers with authority to impose vast fines and even break up companies that are found to have violated antitrust and privacy rules. New York is leading a coalition of states in a wide-ranging investigation of Facebook and the Texas attorney general said that he’ll announce a separate ...

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• 8 September

  Le Maire: No room for Renault-Fiat talks amid Italy revival

  

  Bloomberg Renault SA and Nissan Motor Co need to define a common strategy first before discussing a potential tie-up with Fiat Chrysler Automobiles NV, French Finance Minister Bruno Le Maire said. The coolness towards the possibility of extending the alliance to the Italian-American carmaker comes against the background of a revival of France’s relationship with Italy after the installation of ...

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• 8 September

  Volkswagen replaces head of its ride-hailing business Moia

  

  Bloomberg Volkswagen AG said it is shuffling the leadership at its Moia unit to map out next steps in the development of its ride-sharing operations. Ole Harms, who has led Moia since its founding in 2016, will take on “a new, responsible task” within the world’s biggest automaker, the German manufacturer said in a statement. His successor will be the ...

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• 8 September

  Billionaire donates $360mn to USC

  Bloomberg Billionaire founder of Public Storage, B Wayne Hughes Sr, donated almost $400 million to the University of Southern California (USC), most of which was given anonymously, according to the Los Angeles Times. The son of a sharecropper, Hughes fled from dust storms in Oklahoma to Los Angeles, where he graduated from USC in 1957. The newspaper identified him as ...

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